Global macro, event-driven, and commodity hedge fund strategies had weighted average third-quarter returns of 4.1%, 3.7% and 3%, respectively, based on funds administered by Citco Group. Almost three-quarters, or 74%, of event-driven funds had a positive return. Multistrategy, fixed-income arbitrage and equities had negative returns.
Overall, 50.8% of funds had a positive third-quarter return, up from 32.8% in the second quarter. Nonetheless, hedge funds had negative net flows for the quarter. Outflows were $39.4 billion vs. $30.4 billion of inflows.